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Wage Increase For Millions? Overtime Rule Could Be Raised By Obama Administration This Week

President Barack Obama's administration could soon increase wages for millions of American workers by doubling the salary levels that would require employers to pay overtime. The bold move, to be discussed later this week, would not need approval from the Republican-controlled Congress.

The Labor Department could propose the rule as early as this week; it would raise the current overtime threshold of $23,660 to an expected range of $45,000 to $52,000, Politico reported Monday.